So I finally got around to it.
The procedure was a semi nightmare, you know, not a scary one but nevertheless one that gets your chest pumping and waking up with a start.
For future reference this is a guideline on the procedure to purchase/sell a used car.
Most people don't want the hassle and take the easy way out by buying a new car all the time. But what they don't realize buying a new car only tells the government, we, people of Malaysia can afford them and thus, will never lower the taxes.
But enough of that.
*As of April 1st 2014, buyer and sellers must be present at the time of ownership transfer. The use of "runners" are no longer allowed.
I'll keep it simple.
Selling your car
1. As the seller, get these forms from the Road Transport Department, JPJ:
i) Form TM-1 (a checklist)
ii) 2 original JPJ K3 (the main transfer of ownership form)
2. Call your nearest PUSPAKOM inspection centre and make a booking.
Head to PUSPAKOM and go for "Ownership Transfer Inspection"
It will take roughly the whole day, depending on number of people queuing up. The fee for saloon car (private) should only be around MYR 30. You will receive a B5 certificate. Do not lose it. (It is valid for 30 days)
3. Buyer needs insurance
Meet up with the Buyer. The buyer has to apply for insurance for the car you are going to sell.
Click here for more detail.
4. Filling out forms
i) Buyer and seller fill out 2 JPJ-K3 forms
ii) Photocopy both buyer and seller IC or Passports.
5. Head to JPJ (Buyer and Seller)
i) queue up
ii) Hand in the forms
iii) Sit and wait for approval (sometimes it takes 10-15 minutes for
approval as JPJ need to check if all the details are consistent with
iv) Buyer pays for Transfer fee: MYR 100
6. Take the payment from the Buyer and give him the Registration card and Car keys.
Where possible, get the payment from your buyer at the nearest bank of your choice.